Dallas PFC weighs term sheet for two‑phase Jefferson Weekman housing project

The Dallas Public Facilities Corporation on May 27 heard a presentation from JPI on a two‑phase housing project identified on the agenda as "Jefferson Weekman," located at 1150 West Weekman Road and 1200 West Whitman Road in south Dallas, and discussed a proposed term sheet to advance negotiations.

Carson Lowe, an affordable housing development manager at JPI, presented the project and said it would be built in two phases: a 450‑unit first phase and a 295‑unit second phase. He said the developers are proposing a conventional PFC ground‑lease structure now and may evaluate a tax‑exempt bond structure later.

The PFC discussion centered on the deal terms and public benefits. The development team proposed 10% of units at 60% of area median income (AMI), 40% at 80% AMI and 50% at market rate. The team committed that the 80% AMI units would be priced at least 10% below market rent. Carson Lowe said the first phase would aim to start leasing units about 18 months after closing, and estimated absorption of 20–30 unit releases per month.

Why it matters: board members said the project could add substantial housing and neighborhood investment on church‑owned acreage, but they questioned altered financial terms and the time before the PFC would receive recurring ground‑lease revenue.

JPI and community partners, public benefits and fee structure The development team presented a set of financial terms it said would yield a public…